Cumberland boosts Meadowbank resource

Vancouver-based Cumberland Resources (CBD-T) has increased resources at its Meadowbank gold project, 70 km north of Baker Lake in the new territory of Nunavut.

Resources stand at 8.8 million tonnes averaging 6.15 grams gold per tonne, of which 62% is considered indicated and 8% measured. This is just over 200,000 oz. greater than the previous estimate and is based on results from 322 drill holes.

The resource is divided among four zones, namely Third Portage, North Portage, Bay and Goose Island, and was calculated by Mineral Resource Development Inc. as part of a prefeasibility study that is scheduled for completion in May. A cutoff grade of 2.5 grams was applied to the first three of those deposits, and 6 grams, to the Goose Island deposit. Furthermore, cutting factors of 30 and 45 grams, respectively, were used for Goose Island and Third Portage. Drilling continues.